Author Topic: Where have all the forgers gone?  (Read 8929 times)

gaianhuuto #15 on: January 29, 2016, 12:48:19 PM

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It seems we have beat them to it  ;D
Everybody update to 0.6.2 please, good chance lots of (big) forgers have been on a fork this past week.

Update to 0.6.2 and all future updates become a breeze.

https://bitcointalk.org/index.php?topic=633304.msg13707939#msg13707939

Updated. Seems to be stable without forks lurking behind every released block :) Thank you for the effort!
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kani #16 on: February 01, 2016, 03:12:09 PM

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Many forgers are back, chain looks much healthier now (i.e. better distribution of block creators).

Still some big accounts that choose not to forge.  Is their problem, I suppose...  no block rewards for them, more for everyone else :)


« Last Edit: February 01, 2016, 03:19:26 PM by kani »
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rickyjames #17 on: February 06, 2016, 06:04:55 PM

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Nobody wants to buy the millions of FIMK I've already forged.  Why burn power to make more?

kani #18 on: February 06, 2016, 08:23:35 PM

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Nobody wants to buy the millions of FIMK I've already forged.  Why burn power to make more?

Well, by my calculations you'd make about $60 worth of FIMK a month by forging, even at current very low prices.  There's no way forging uses anywhere near that amount of power.

(Using $0.000185 (0.00000049 BTC) from coinmarketcap).

Whatever, suit yourself.  I'm not going to waste any more of my energy trying to convince the hopeless.
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Polarpanda #19 on: February 08, 2016, 06:53:21 PM

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Nobody wants to buy the millions of FIMK I've already forged.  Why burn power to make more?

Yes, this made me look up some numbers:
26.Apr.2015 FIMK had 42 forgers with 18 largest receiving 95% of the profits.
20.Oct.2015 FIMK had 24 forgers with 10 largest receiving 95% of the profits.
8.Feb.2016 FIMK has 15 forgers with 5 largest getting the 95% of the profits.

With the daily rewards being today 168317 FIMK and the exchange rate at the only exchange at 0.00000050 BTC seems like the total 'value' for freshly minted FIMKs is 0.084 BTC  (at 373 USD) or 31 US Dollars.  Out of this almost 30 USD go to the BIG five. The rest of us can share the remaining one dollar a day.
And if you decide you want to offload your FIMK today, there are 0.56BTC of BUY offers in global existence that I know of (ccedk).

Eliphaz Fimk #20 on: February 08, 2016, 08:04:43 PM

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Quote from: Polarpanda
The rest of us can share the remaining one dollar a day.
Quote
And if you decide you want to offload your FIMK today

This useful investigation and speculation may serve as the eye opener that one should forge FIMK primarily for the future, not for today's needs at the bleak spot value. At the moment forging is a hobby with some nice upside potential and little expenses.

From the financial point of view it's always good to look at the fundamentals: FIMK is technically and structurally one of the leading crypto platforms with strong active development and lots of positive surprises to come.

warmach #21 on: February 08, 2016, 10:28:34 PM

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Yes, this made me look up some numbers:
26.Apr.2015 FIMK had 42 forgers with 18 largest receiving 95% of the profits.
20.Oct.2015 FIMK had 24 forgers with 10 largest receiving 95% of the profits.
8.Feb.2016 FIMK has 15 forgers with 5 largest getting the 95% of the profits.

With the daily rewards being today 168317 FIMK and the exchange rate at the only exchange at 0.00000050 BTC seems like the total 'value' for freshly minted FIMKs is 0.084 BTC  (at 373 USD) or 31 US Dollars.  Out of this almost 30 USD go to the BIG five. The rest of us can share the remaining one dollar a day.
And if you decide you want to offload your FIMK today, there are 0.56BTC of BUY offers in global existence that I know of (ccedk).

I think these numbers are a bit misleading. Of the top 5, at least 3 are forging pools that comprise 35-50 individual forgers.  I think the trend to be seen is that people have decided to pool their resources. So I think the same forgers are there but in a different way. While the forgers are there, it is dependent on the operators of the pools being trustworthy as they handle the forged funds of their pool participants.  While there are many people forging, the majority of the "forged" FIM, and to an extent the network integrity, is controlled by 5 accounts.
Warmach's Forging Pool
http://fim.warmach.info/pool/
May the forge be with you...

kani #22 on: February 10, 2016, 01:09:53 AM

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one should forge FIMK primarily for the future, not for today's needs

Precisely!

FIMK is technically and structurally one of the leading crypto platforms with strong active development

Yes!  If you've been paying attention, you will see that FIMK development is outstanding.  The focus on "real world" usability is quite distinct in the crypto space.

Short-term thinkers will simply see the current price and volume and shout failure.   It is my sense that those who guide FIMK have intentionally sought low visibility until the project reaches a more refined state.  The potential is very strong.

and lots of positive surprises to come.

Can't wait!  :)
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eRoh #23 on: February 10, 2016, 07:00:23 AM

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Nobody wants to buy the millions of FIMK I've already forged.

Now there's a buy offer for 1.2 million FIMK at 50 satoshis a piece, which makes 0.6 BTC for the whole lot.
FIM-34B3-PWY5-TMHC-9JYW8

Polarpanda #24 on: February 10, 2016, 03:48:49 PM

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Now there's a buy offer for 1.2 million FIMK at 50 satoshis a piece, which makes 0.6 BTC for the whole lot.

Gone, no sale.

Speaking of the future, what I'd like to see is a dump from the blockchain which would include the 100 biggest accounts:
address, amount fimk, this account fimk % of all in existance, last transaction date.

I'm sort of curious if a few accounts hold most of FIMK as has happened with SO many other altcoins.

eRoh #25 on: February 11, 2016, 08:24:24 PM

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> Now there's a buy offer for 1.2 million FIMK at 50 satoshis a piece, which makes 0.6 BTC for the whole lot.

Gone, no sale.

And now back, 1.7 M FIMK, 43 satoshis a piece, total 0.7 BTC. Somebody can't decide. :-D
FIM-34B3-PWY5-TMHC-9JYW8

cabby #26 on: February 21, 2016, 04:45:02 AM

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To answer the question asked by the OP, the forgers with high stakes are simply waiting for FIMK to gain more popularity. There is no point trying to forge at the moment for us. By not doing so, it gives more chances to smaller accounts.

kani #27 on: February 21, 2016, 05:34:30 AM

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Thank you for your answer (and your generosity to lesser forgers :cheers:)

However, when the question was posed there was a single major forger who was creating a vast majority of the blocks on the main chain.  The biggest issue, it turns out, was a hard fork in the protocol which created unofficial forks by peers running the older client.

Everything looks much better now.  I consider the topic closed.

The lead developer has since implemented core functionality to clean up hard forks:
http://fimkchat.com/2016/01/solving-the-hard-fork-dilemma/

To answer the question asked by the OP, the forgers with high stakes are simply waiting for FIMK to gain more popularity. There is no point trying to forge at the moment for us. By not doing so, it gives more chances to smaller accounts.
« Last Edit: February 21, 2016, 05:56:04 AM by kani »
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OrgiOrg #28 on: February 24, 2016, 12:19:15 PM

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To answer the question asked by the OP, the forgers with high stakes are simply waiting for FIMK to gain more popularity. There is no point trying to forge at the moment for us. By not doing so, it gives more chances to smaller accounts.

for me it would be okay if forgers with high stakes have no reason to wait anymore because FIMK is so popular  :cheers:


eRoh #29 on: July 29, 2016, 09:09:50 PM

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What do you think of the current forging distribution?:
https://lompsa.com/#/activity/fim/forgers/latest
Something that frightens me, is that I have only a couple of millions, and currently forging like hell... Then there is this single huge forger, which outruns even the largest pools in total forging power. Is it the association? (I don't have the means to check this kind of details)
FIM-34B3-PWY5-TMHC-9JYW8